Altius Minerals Seals Lithium Royalty Corp. Deal in Strategic Energy Play

ST. JOHN’S, Newfoundland – March 06, 2026 – Altius Minerals Corporation has officially cemented its bold move into the heart of the green economy, finalizing its acquisition of Lithium Royalty Corp. (LRC) in a deal that reshapes its portfolio and welcomes a powerful new shareholder. The successful completion of the plan of arrangement, announced today, marks a pivotal moment for the diversified royalty company, positioning it as a significant player in the critical lithium supply chain that fuels the global transition to electric vehicles and renewable energy.

The transaction, which saw LRC shareholders approve the arrangement with a near-unanimous 99.8% vote, will result in LRC being delisted from the Toronto Stock Exchange. Altius paid a combination of cash and stock, issuing over 9.6 million shares and approximately C$140 million to former LRC shareholders.

A Counter-Cyclical Bet on Electrification

Altius’s acquisition is widely seen as a strategic, counter-cyclical investment. The company is wagering on the long-term fundamentals of the lithium market, which, despite recent price volatility and a period of oversupply in 2025, is projected to enter a period of sustained growth. Market analysts forecast a rebalancing in 2026, with a significant supply deficit expected to emerge as early as 2028. Global demand for lithium carbonate equivalent (LCE) is set to soar, driven relentlessly by the automotive and energy storage sectors. Projections from firms like Wood Mackenzie suggest demand could exceed 13 million tonnes by 2050 in an accelerated energy transition scenario.

By acquiring LRC now, Altius gains a premier portfolio of lithium assets at a moment when market valuations were tempered. The deal valued LRC at approximately C$521 million, a nearly 30% premium over its trading price before the deal's announcement in late 2025.

Altius CEO Brian Dalton framed the acquisition as a landmark achievement. “The closing of this transaction represents an important milestone in Altius’s history of growing and diversifying a portfolio of royalties relating to long-life, high growth potential natural resource projects,” he stated. The move diversifies Altius beyond its traditional holdings in potash, iron ore, and base metals, aligning it directly with what it calls "global growth trends including increasing electricity-based market share within energy usage."

The Waratah Factor: A New Influential Shareholder

A significant outcome of the transaction is the emergence of Waratah Capital Advisors Ltd. as a major Altius shareholder. Through its affiliated funds, the Toronto-based asset manager acquired over 7.8 million Altius shares, constituting a formidable 14.0% stake in the company.

Waratah is no stranger to the assets it now holds an indirect interest in. The firm was a key sponsor and majority shareholder of Lithium Royalty Corp., which was co-founded by Waratah’s Blair Levinsky in 2018. This deep history suggests Waratah will be a highly informed and potentially influential investor.

In its regulatory filings, Waratah has noted that it may "take such actions with respect to its investment in Altius as it deems appropriate," standard language that nonetheless leaves the door open for active engagement on corporate strategy. The presence of a 14% owner with deep expertise in the newly acquired lithium assets could significantly shape Altius's direction as it integrates LRC. For existing Altius shareholders, the deal brought a dilution of approximately 17.2% but also added a strategic partner with a vested interest in maximizing the value of the lithium portfolio.

A Global Portfolio of High-Potential Lithium Royalties

At the core of the deal is LRC's globally diversified collection of 38 royalties. This portfolio provides Altius with immediate cash flow from producing mines and significant long-term growth potential from assets in development and exploration. It is a curated selection of what Ernie Ortiz, former President and CEO of LRC, described as "high-grade, low-cost royalties in the lithium sector."

Key assets now under the Altius umbrella include royalties on:
* Ganfeng’s Mariana Project (Argentina): An operation that recently made its first shipment of lithium chloride and is already planning for expansion.
* Sigma Lithium’s Grota do Cirilo Project (Brazil): A producing mine that recently resumed activity and is selling significant volumes of lithium.
* Core Lithium’s Finniss Project (Australia): An operation evaluating a restart, providing upside optionality.
* Ganfeng's Goulamina Project (Mali): A recently acquired royalty expected to begin contributing to revenue streams imminently.

This mix of assets, spanning different geographies and stages of the mining lifecycle, is projected to generate between US$29 million and US$43.7 million in annual revenue for Altius by the end of the decade.

To guide this new chapter, Ernie Ortiz has joined the Altius management team. His decade-plus experience in the lithium sector, from his early days as a research analyst at Credit Suisse to co-founding and leading LRC, is considered a critical asset for Altius. “We are also very pleased that Ernie Ortiz has agreed to join our management team as we continue to seek ways to add value and strength to Altius,” Dalton commented.

Ortiz echoed the sentiment, stating, “The completion of this transaction marks an important milestone for LRC and marks an exciting new chapter of growth for the lithium segment of Altius Minerals.” With seasoned leadership and a portfolio primed for the electrification boom, Altius has now firmly charged its strategy for the decades ahead.